Corporate News
Exterior view of Nokia head offices in Espoo, Finland. PHOTO | FILE |
AFP
By REUTERS
In Summary
- The Alcatel acquisition will vault Nokia into a stronger position to compete with Sweden's Ericsson and China's Huawei.
Finland's Nokia said on Monday it has gained control
of French rival Alcatel-Lucent following its 15.6-billion-euro ($17
billion) all-share offer and the two telecom equipment makers would
combine on January 14.
The French stock market authority said interim results showed Nokia would hold around 79 per cent of Alcatel shares.
The offers in France and the United States will be reopened this month, and the final results will be published in February.
"We will move quickly to combine the two companies
and execute our integration plans," Nokia Chief Executive Rajeev Suri
said in a statement.
Nokia reiterated that the deal is expected to be closed in the first quarter.
The Alcatel acquisition will vault Nokia into a
stronger position to compete with Sweden's Ericsson and China's Huawei
in a market for telecom network gear where little growth and tough
competition are pressuring prices.
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